Aravind Subramanian, a US based
economist was appointed India’s chief economic adviser. Subramanian is a senior
fellow at the Peterson Institute for International Economics in Washington D C.
He has worked at the International Monetary Fund in the past where he worked
alongside the current head of India's Reserve Bank Raghuram Rajan.
Reacting to his appointment, Subramanian
said he was honoured to serve a government that has a mandate for reform and change.
"For any economy like India, the two big things are macroeconomic
stability and of course creating conditions for rapid investment and growth.
While creating opportunity for all segments of Indian society, no one should be
left out of this process," he told reporters.
The announcement comes the same day as
Prime Minister Narendra Modi's announcement that the government would overhaul
the country's archaic labour laws to draw more investment to Asia's third
largest economy.
India also appointed a new finance
secretary, the top bureaucrat in the country's finance ministry on Thursday.
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